Cyber security as a service is a combination of practices and processes employed to protect systems, networks and data from breaches, attacks and unauthorized access. Cybersecurity as a service for organizations is an operating expense (Opex) rather than capital expense (Capx) and it manages network security, confidential data protection and enables organizations to respond to incidents taking place immediately. Global Cybersecurity as a Service Market is expected to grow in the forecasted period, in 2018 market size of the Cybersecurity as a Service was XX million and in 2025 is expected to reach at XX million with growing CAGR of XX%. The cybersecurity market includes solutions such as security incident management, Unified Threat Management (UTM), risk and compliance management, and Identity and Access Management (IAM) that enable organizations to secure infrastructure and data from harmful cyber threats and vulnerabilities.
Increase in adoption of mobile devices, and growing reliability on Internet services in industries such as retail, healthcare, BFSI, and energy and utility supplements the market growth. Increase in adoption of mobile devices, and growing reliability on Internet services in industries such as retail, healthcare, BFSI, and energy and utility supplements the market growth, the demand for effective cybersecurity modules such as cybersecurity as a service is also expected to rise at an unprecedented pace in the near future. It has been observed in the past few years that the number of cyber-attacks has substantially increased, which, in turn, is compelling enterprises to be equipped with effective cybersecurity solutions and services to ensure the security of digital resources and a smooth workflow.
The Cybersecurity as a Service market consists global and regional players including armor Defense Inc., Transputec Ltd, BAE Systems, Capgemini, BlackStratus, Choice CyberSecurity, Cloudlock (Cisco), FireEye, Inc., LookingGlass Cyber Solutions, Inc., AT&T, Optiv Security Inc., and Tata Consultancy Services Limited among others.
The Cybersecurity as a Service market is bifurcated on the basis of user type, services, solutions, deployment type, industry vertical and region. Cybersecurity as a Service market by region segmented into North America, Europe, Latin America, Asia-Pacific and Middle East & Africa. In 2017, Asia-Pacific is expected to dominate due to the rising numbers of start-ups and government initiatives and regulations concerning cybersecurity. Increased uptake of cloud services in these regions and the rising threat of cyber-attacks are also likely to compel enterprises in these regions to be equipped with cost-effective and reliable cybersecurity measures in the near future.
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